The omega-3 prescription drugs market has shown robust growth, rising from $1.49 billion in 2023 to $1.63 billion in 2024, at a CAGR of 9.6%. This growth is driven by health awareness, cardiovascular health focus, and clinical research. By 2028, the market is projected to reach $2.37 billion at a CAGR of 9.8%. Drivers include expanded indications, personalized medicine, and health app integration. Trends include innovative formulations, personalized health solutions, and health supplement popularity.
Major Driver In The Omega 3 Prescription Drugs Market
The omega-3 prescription drug market is poised for growth driven by the escalating cases of cardiovascular diseases (CVDs) worldwide. Elevated blood triglyceride levels, associated with increased cardiovascular risks, necessitate interventions to regulate and reduce these levels, with omega-3 supplements playing a pivotal role. As per the 2021 World Health Organization (WHO) report, CVDs accounted for a staggering 17.9 million deaths globally, representing 32% of total deaths, with heart attacks and strokes comprising 85% of these fatalities. Consequently, the surge in cardiovascular diseases fuels the demand for omega-3 prescription drugs, reflecting anticipated market sizes for 2023, 2024, and 2028.
Request A Free Sample Of The Global Omega 3 Prescription Drugs Market Report
Omega 3 Prescription Drugs Market Competitive Landscape
Pfizer Inc., BASF SE, Merck & Co Inc., Novartis International AG, Sanofi S.A., AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Viatris Inc., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Eisai Co Ltd., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Cipla Limited, Hikma Pharmaceuticals plc, Intas Pharmaceuticals Ltd., Recordati S.p.A., Vifor Pharma Management Ltd., Lupin Limited, Glenmark Pharmaceuticals Ltd., Alkem Laboratories Ltd., Sunovion Pharmaceuticals Inc., Cadila Healthcare Ltd., Torrent Pharmaceuticals Ltd., Wockhardt Ltd., Amarin Pharmaceuticals Ireland Ltd., Natrapharm Inc.
Key Omega 3 Prescription Drugs Market Trend
New product innovations have emerged as a key trend gaining popularity in the omega-3 prescription drug market. Major companies operating in the manufacturing of omega-3 drugs are focused on developing new product innovations to strengthen their position in the market. For instance, in October 2022, the European Commission gave the green light to plant-based omega-3 products from DSM for fish and animal substitutes throughout the EU. DSM claims that the product enhances plant-based foods' nutritional profile and enables the development of fish products based on animals that will be like current fish products. This omega 3 supplement can be used to enhance the nutritional content of goods without having an adverse effect on the marine ecosystem.
Get The Full Global Omega 3 Prescription Drugs Market Report
Omega 3 Prescription Drugs Market Segmentation
The Omega 3 prescription drugs market covered in this report is segmented –
1) By Drug Type: Vascepa, Lovaza, Other Type
2) By Application Type: Hypertriglyceridemia, Other Application Type
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
By Geography:The regions covered in the omega 3 prescription drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the omega 3 prescription drugs market in 2023.
The Omega 3 Prescription Drugs Global Market Report 2024 furnishes information about the global omega 3 prescription drugs market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
